Debt Consolidation...How Much Can You Save With a Debt Consolidation Loan?

DEBT CONSOLIDATION.. HOW MUCH CAN YOU SAVE WITH A DEBT CONSOLIDATION LOAN? over 40% of American families spend more money than they earn Consumer debt is at an all-time high according to the Federal Reserve which puts the figure at about $2.8 trillion, and this does not even include the debt associated with mortgages! According to the Federal Reserve It isn't news that Americans have a love/hate relationship with debt. $2.8 trillion is $8,800 for each man woman and child in the United States 31% 69% is from revolving credit Like credit card is due to automobile loans, student loans, and money borrowed to buy boats, trailers, vácations The average new car loan is $27,000: Pieces of plastic in the average American's pocket or purse (credit cards, debit cards, store cards, etc.) amounting to 1.3 BILLION payment cards in circulation in the US. Americans are making over a Trillion Dollars in credit card purchases annually If you made only the minimum payment on the average debt, it would cost you an additional $15,000 in interest during the 30 years it would take you to pay it off. Month-to-month, the average credit card debt is $5,800 The typical credit card purchase costs 112% more than it would have using cash DEBT CONSOLIDATION The point of debt consolidation is to ease the burden of paying interest on your existing debts. What you essentially do is pay off all of your higher-interest debts with one big loan with a modest interest rate. This can be done fairly easily, especially when you can provide collateral such as your house. 3 REASONS TO CONSOLIDATE YOUR DEBT: TO SECURE A LOWER INTEREST RATE! TO SECURE A FIXED INTEREST RATE! FOR THE CONVENIENCE OF SERVICING ONLY ONE LOAN! You can't borrow your way out of debt, but you CAN consolidate all your high-interest debts into just ONE debt consolidation loan with a favorable and fixed interest rate. Prevent your debt from spiraling out of control by consolidating it into one easy payment and paying down the principal amount! And don't forget about the convenience of paying one bill each month instead of keeping track of several. This should save you hassle and $. valuable time. $. Visit ProjectDebtRelief.com now for a free consultation with a debt specialist. Sources: http://books.google.com/books?id=zdWrPiSGXY4C&pg=PA292 http://www.bankrate.com/calculators/home-equity/debt-consolidation-calculator-tool.aspx http://en.wikipedia.org/wiki/Debt_consolidation http://www.newstepsolutions.com/debt-statistics.htm http://www.money-zine.com/financial-planning/debt-consolidation/consumer-debt-statistics/ ProjectDebtRelief projectdebtrelief.com %24 %24